Interactive Marketing budget predictions looking good for another five years
Posted by Manuela Barreto @ July 22nd, 2009 in Marketing Analysis
One of marketing’s most powerful trends today is interactive marketing. This kind of interactive advertising not only allows consumers and prospects to actively participate in your marketing scheme, but with a strong interactive marketing strategy, you can significantly boost the effectiveness of your campaign and gain valuable selling time.
As a result, an increasing number of businesses are venturing out into the realm of social media and the recent numbers unveiled by Forrester Research give evidence to this.
The US Interactive Marketing Forecast 2009 to 2014 predicts that social media spend will increase to $3bn in five years time, but prior to that, it will be hitting $716m before the end of this year.
In like manner, the compound annual growth rate (CAGR) for social media is predicted to be the highest at 34% compared to all other types of interactive strategies. Following right behind is mobile marketing (27%), Display advertising (17%) and Search marketing (15%).
In addition, search marketing makes up more than one-half of all interactive investment, and will remain as the format of choice through 2014.
As we have previously discussed, marketers are increasing interactive budgets by shifting spend from traditional outlets.
Such statement is backed up by Forrester analyst Shar VanBoskirk when she comments that “with dollars moving out of traditional media toward less expensive and more efficient interactive tools, marketers will actually need less money to accomplish their current advertising goals.”
As marketers all over the world face budget cuts and shift from traditional media to more efficient digital strategies to market their products and services, implementing the right media mix will definitely be the key to success.
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Comments
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